NCLT Rejects Fraud Claim as ₹260 Crore Intra-Group Assignment Had No Effect on Creditors

Anish Niranjan Nanavaty Vs Reliance Communications Tamil Nadu Ltd. (NCLT Mumbai) The National Company Law Tribunal (NCLT), Mumbai Bench dismissed an application filed under Sections 66 and 67 of the Insolvency and Bankruptcy Code, 2016 alleging that a ₹260 crore intra-group assignment transaction involving Reliance Communications Infrastructure Limited constituted a fraudulent transaction intended to defraud creditors. The Resolution Professional challenged an assignment through which receivables of ₹260 crore due from Reliance Communications Tamil Nadu Ltd. (RCTNL) to Reliance Communicati...